Evolving Technologies in Automotive Transmission Market During Forecast 2023-2030
Automotive Transmission Market Overview
The Automotive Transmission is a critical component of the automotive industry. It plays
a crucial role in transferring power from the engine to the wheels, enabling
the vehicle to move forward. The Component plays a vital role in enhancing
vehicle efficiency and performance is the automotive transmission. This article
provides an in-depth analysis of the automotive transmission market, including
its types, market overview, key players, market segmentation, regional
analysis, technological advancements, and impact of electric vehicles.
The Market is expected
to witness significant growth during 2023-2030, with projections indicating a
rise from USD 72.98 Billion in 2022 to USD 115.43 Billion By 2030 with
witnessing a CAGR of 6.2%.
Market definition:
The transmission system converts the rotational power
generated by the engine into linear motion, propelling the vehicle forward or
backward. Automotive transmissions are
available in different types, such as manual, automatic, continuously variable,
and dual-clutch transmissions. It enables the driver to control the speed and torque of the vehicle.
Drivers
Manufacturers are continuously investing in research and
development to introduce innovative features and improve transmission
performance. Adoption of lightweight materials to reduce overall weight and
improve fuel economy.
Continual development of more efficient and compact
transmissions to meet stringent emission regulations and fuel efficiency
standards. Increasing focus on sustainable and eco-friendly transmission solutions to align with global
environmental initiatives.
Restraints
The transition towards electric vehicles (EVs) requires a
supportive infrastructure, including charging stations and battery swapping
facilities. However, the availability and accessibility of such infrastructure
are still limited in many regions. Events such as natural disasters,
geopolitical tensions, or pandemics can disrupt the supply of key components
and raw materials required for transmission production.
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Market Segmentation:
The automotive transmission market can be segmented based on
various factors, including By Type, By
Engine Type, By Vehicle Type and
Geographic considerations. Understanding these segments helps in analysing
the market dynamics and identifying key growth opportunities.
By Type
·
Manual
Transmission
·
Automatic
Transmission
·
Automated
Manual Transmission (AMT)
·
Continuously
Variable Transmission (CVT)
·
Dual
Clutch Transmission (DCT)
·
Tiptronic
Transmission
By Engine Type
·
IC
Engine
·
Electric
Engine
By Vehicle Type
·
Passenger
Cars
·
Light
Commercial Vehicles
·
Heavy
Commercial Vehicles
By Geography
·
North America: U.S., Canada, Mexico
·
Europe: Germany, France, U.K., Russia, Italy,
Spain, BENELUX, Rest of Europe
·
Asia Pacific: China, Japan, India, South Korea,
Australia, ASEAN, Rest of Asia Pacific
·
Latin America: Brazil, Argentina, Chile, Rest of
Latin America
·
The Middle East and Africa: GCC, Turkey, Israel, Rest of MEA
Competitive Dynamics:
Suzuki Motor
Corporation, ZF Friedrichshafen AG, Hyundai Motor Company, Eaton Corporation
plc, Tata Motors Limited, Lotus Cars Limited, Magna International Inc., JATCO
Ltd, Aisin Seiki Co., Ltd., Allison Transmission, Inc.-
The Automotive Transmission Outlook examines the major companies in the market.
In an effort to strengthen their position within the industry and increase
their market share, market players strive to meet the evolving demands of the
industry by advance developments in the transmission technologies.
Regional Analysis
The Automotive
Transmission Market reveals unique market dynamics across different
regions. Among the regions, Asia Pacific holds the largest share in the market
and plays a significant role in shaping its overall dynamics. The region is
home to some of the world's largest automotive manufacturers and has witnessed
a substantial increase in vehicle production over the years. Countries such as
China, India, and Japan are at the forefront of this growth.
Technological advancements and the growing demand for
advanced transmission systems are driving North America to emerge as a key
market for automotive transmissions. Europe is at the forefront of promoting
fuel efficiency and reducing emissions in vehicles.
Recent Developments
·
In
July 2021, Magna International, a major automotive acquired Veoneer, a company
known for its innovative automotive safety systems.
·
In
January 2021, Aisin Seiki Co., Toyota Motor Corporation, and Denso Corporation
announced the establishment of a new joint venture called BluE Nexus
Corporation.
Key highlights
·
The
automotive transmission market is witnessing a significant shift towards
electric power, driven by the growing demand for electric vehicles (EVs).
·
Manufacturers
are leveraging AI-powered systems to optimize transmission performance, monitor
driving patterns, and enhance overall vehicle efficiency.
·
As
the market embraces hybrid powertrains, the demand for hybrid transmissions is
on the rise.
·
The
rise of shared mobility services, such as ride-hailing and car-sharing
platforms, is influencing the automotive transmission market.
·
The
initiative aim is to reduce the carbon footprint of transmission production and
contribute to a greener automotive industry.
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